At H&K Insurance, we protect not only your belongings, but your family. With a custom life insurance policy we can ensure your dependents are financially taken care of in the unfortunate event of your passing.
Life insurance is compulsory if you have dependent children under the age of 18 or a dependent spouse. However, you may also need a policy should your parents depend on you financially, an ex-spouse, or if you are an employer who hires employees.
The benefit paid out can be used to cover living expenses, outstanding debts, mortgages, college education’s of children and any unexpected expenses one may incur. For those processing the various emotions that come with losing a loved one, a policy can be a welcomed reprieve for those left behind.
Types of Life Insurance
Term life insurance provides a one-time lump sum payment for a pre-determined number of years to financial dependents. Premiums are typically fixed and are less expensive than a permanent policy. This type of policy is most ideal for those who need temporary protection during working years. The policy can be renewed once it comes to an end or it can be converted to a whole life policy if desired by the insured.
A permanent life insurance policy does not expire. Premiums are typically fixed and are more expensive than a term life policy. This type of insurance is most ideal for those who would like to build up tax-deferred wealth accumulation.
Similar to whole life insurance, universal life is generally more flexible in regards to protection options and premium amount as it can raise and lower overtime in conjunction with your policy. Designed to primarily help meet wealth transfer and income protection goals. While this type of plan, for many, lasts a lifetime; the protection period may be flexible depending on circumstances.